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Federal Government Releases Conditions with Student Loan Scheme Set to Begin on Friday 24th May 2024

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The federal government has said that students in federal government-owned Tertiary Institutions will be the first batch of beneficiaries of the Student Loan Scheme.

Chief Executive Officer of Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, who stated this, stressed that no fewer than 1.2 million students are expected to benefit from the cardinal programme of the Bola Ahmed Tinubu administration.

Speaking on other conditions for beneficiaries, Mr. Sawyer said students in federal institutions such as Universities, Polytechnics, Colleges of Education, and Technical Colleges, whose institutions have completed and uploaded their student data would get the opportunity.

He also noted that applicants would be required to provide their Joint Admissions and Matriculation Board (JAMB) Letter, National Identification Number (NIN), and Bank Verification Number (BVN).

Regarding repayments, he said the loanees, regardless of whether they are employed by the government or in private enterprises, must repay the loans within two years.

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